Two luxury developments across the street from each other compete for foreign buyers

In one of Singapore's most sought-after neighborhoods, two luxury projects going up across the street from one another are locked in a competition for luxury buyers. Both aim to attract wealthy foreigners. And both are facing a slowdown in the wake of recent government cooling measures. The result: potential deals for overseas buyers.

The two projects—the similarly named d'Leedon and Leedon Residence developments—are situated along Leedon Heights, a lush street in Singapore's District 10 that flanks the city-state's...